Cutting the Leek in Cryptocurrency Scams? Kim Kardashian and Mayweather have been charged with fraud

As of 2021, the story of America's "Leaks" cleaning up Wall Street is still popular, but still cannot save the fate of many "Leaks" that have been "cut".

Celebrities such as American netizens Kim Kardashian, champ Floyd Mayweather Jr., and former NBA player Paul Pierce are scamming investors into the “pump and toss” cryptocurrency experiment.

Screenshot of the Wall Street Journal

According to the Wall Street Journal (WSJ) on the 11th, according to a class action lawsuit filed in the Central District Court of California, celebrities have been accused of making false statements or lying to businessmen by 'Ethereum Max '. Media coverage and other media. Words about sex "." Defendants also include the founder of EthereumMax.

New York resident Ryan Huegerich sued on behalf of those who bought EMAX tokens and lost money from May 14 to June 27, 2021. Price and sale price of EMAX tokens. "

The lawsuit alleges that EthereumMax was "allegedly a digital token created by a confused group of cryptocurrency developers" and that a celebrity boosted its value, causing followers to buy the token and then sell it.

According to Bloomberg News on April 12, in the lawsuit, he said Ethereum Max had nothing to do with Ethereum, the second largest cryptocurrency. The business has nothing to do with McDonald's, except that it sells groceries. "

EthereumMax denied the claim, saying "recent claims are fraudulent and all data is incorrect." Reps for Kardashian, Mayweather and Pierce did not immediately respond to a request for comment.

A photo of American online star Kim Kardashian appeared in the Wall Street Journal

According to the Wall Street Journal, Kardashian, who promoted cryptocurrency via Instagram in 2021, will reach 288 million followers. In the past, he has come under fire from UK financial authorities for posting on Instagram encouraging fans to join the 'Ethereum Max Community'.

Kim Kardashian on Instagram

Mayweather sponsored a football match with famous American YouTuber Logan Paul in June. According to US Consumer News and Business Channel (CNBC) information on January 12, when Ethereum Max became a way to pay for boxing tickets, the lawsuit would have boosted the economy because of the order.

Champion de boxe Floyd Mayweather Jr. Foto Wall Street Journal.

Former NBA player and sports expert Pierce sponsored EthereumMax on his Twitter account during an issue with ESPN.

According to CNBC, this isn't the first time the celebrity has raised cryptocurrency endorsement issues, and it's the case that has angered management.

In 2018, Mayweather was sued by the United States Securities and Exchange Commission (SEC) for illegally trading startup coins using controversial cryptocurrency crowdfunding. Mayweather paid over $600,000 and agreed with the SEC to deny or deny the findings of the SEC investigation.

In September 2021, Charles Randell, head of the UK's Financial Regulatory Commission, warned of cryptocurrency fraud in a speech, posted specifically on Kardashian's Instagram ad to Ethereum Max. While it is impossible to say that EthereumMax is a particular scam, Randall said, "Scammers often pay community members to help them throw away their new coins in order to get rid of them." Guess pure. "

However, Ethereum Max said on its SNS on the 13th, “Recent speculations have contained false information about the Ethereum Max project.”

The price of EthereumMax has been steadily declining since early June 2021. According to site CoinMarketCap, Ethereum Max has fallen 97.8% from its high of $0.0000008546 and was trading at $0.00000001871 prior to the press time.

Screenshot of CoinMarketCap website